A&M Realty Bhd (-ve)
Property developer A&M Realty Bhd (fundamental: 2.15/3, valuation: 1.4/3) rose seven sen or 7.37% to RM1.02.
A total of 960,000 shares were traded, higher than the 200-day average volume of 117,716 units. This is the fourth time A&M is being featured in stocks with momentum since the beginning of the year.
For the financial year ended Dec 31, 2015, A&M’s net profit fell 32% to RM23.85 million from RM35.15 million a year ago. This was because of lower profit contributions across all segments, including property development and construction, manufacturing and trading, hotel and leisure-related services, and plantations.
A&M chairman Tan Sri Ng Boon Thong said in the 2015 annual report that the group is currently in the midst of refurbishing the 19-year-old Puteri Resort Melaka to improve its competitiveness in order to boost its recurring income for the hotel division.
The group will be launching Amverton Hills, its gated semi-detached houses and bungalows in Sungai Buloh towards the end of the second quarter of 2016, with an estimated gross development value of RM643 million.
A&M (5959) - Stock With Momentum: A&M Realty http://www.theedgemarkets.com/my/article/stock-momentum-am-realty-0
